In a bold move highlighting both confidence and commitment to South Africa's clean energy transition, PELE Energy Group (PEG) secured an R575 million investment backed by Norwegian climate investment funds, Nedbank and Norfund. More than just capital, this is a strong supporter of Peg's vision to lead the country.
As a proud South African company, Pele Energy Group continues to show what is possible when Home Grown Innovation meets its purpose-driven strategy. Through its operational weapons (Pele Green Energy (PGE) and Knowledge Pele (KP)), the group has established itself as a leader in both utility-scale renewable energy and socioeconomic change.
“This transaction is a game changer for the PELE Energy Group and the broader renewable energy sector,” said Gqi Raoleka, CEO of PEG. “It affirms our mission to make lasting impacts of sustainable energy solutions not only in South Africa but also in Africa as a whole.”
The investment is made up of Nedbank and Norfund as Limited Partners and Pele Energy Group as general partners. The fund gives PEG the flexibility to accelerate large projects that address the growing demand for reliable low-carbon energy in the country.
Beyond energy, this investment will allow Pele Energy Group to deepen its commitment to social impact. Through KP's work in education, corporate development and local economic advancement, the group continues to weave community resilience into the structure of its projects.
“We are not just building energy infrastructure, we are building our legacy for future generations,” says Raoleka.
According to Norfund, the projects funded through the partnership will help avoid 1.9 million tonnes of Co2 emissions each year, a major contribution to South Africa's climate goals. However, the numbers are only told part of the story. The real impact lies in the work that was created, the empowering community and the transition from South Africans to the energy system.
The Pele Energy Group story is one of resilience, innovation and unwavering beliefs about the country's potential. This groundbreaking investment not only drives the company's hopes to expand its renewable electricity.
